The invention relates generally to data processing, and more particularly, to a method, system, and storage medium for implementing transaction-based data exchange.
Managing information can be a time consuming and often difficult task, particularly where large amounts of information are involved. Information can become outdated with the passage of time, change in response to new information or activities conducted, and may interrelate in important ways to other existing information in a manner that is undetected and unforeseen, causing it to be underutilized. One example is the purchase and sale of products. While a product purchased by an individual may be subject to a warranty, the validity of that warranty may be conditional upon the individual having the product serviced at specified time periods throughout the warranty period (e.g., a warranty for rust protectant applied to a new vehicle). The individual may keep records of payments made (e.g., per an installment contract), as well as the warranty paperwork, but unless the information concerning the warranty conditions is well organized and efficiently managed, the individual may neglect to service the product on time causing the warranty to become invalid.
A variety of useful information is available or accessible regarding purchases at the time of sale or pre-sale period. Product specifications, pricing, taxes, manufacturer warranty registration and rebates, and other data may be helpful to a purchaser in making purchasing decisions, as well as long-term decisions related to the purchase. Acquiring, organizing, and managing this information can be difficult and time-consuming, partly because the information is not centrally located but rather originates from various sources (e.g., manufacturer, seller, financial institutions, etc.). What is needed, therefore, is a way to acquire, organize, and maintain transaction-based information that is derived from a variety of disparate sources.